Back in the boardroom for the SMCR

Author: | Published: 17 Oct 2018

The new regime will be extended to insurers and beyond, as part of a broader conversation about cultural change

The senior managers and certification regime (SMCR) is back on the agenda. Following months of consultation, on July 4 2018 the Financial Conduct Authority (FCA) published its near-final rules on the rollout of SMCR to insurers and other regulated financial services firms. Originally introduced in the UK banking sector in 2016, this package of regulatory rules and standards will apply to nearly all insurers from December 10 2018 and all other Financial Services and Markets Act (FSMA)-authorised firms regulated by the FCA from December 2019....